Drilling Update

RNS Number : 0624A

Indus Gas Limited

29 July 2008

 



For Immediate Release                                                                                                           29 July  2008

Indus Gas Limited

("Indus" or "the Company")

SPF-1 Well Successfully Drilled and Cased

Indus Gas Limited (AIM: INDI.L), an oil & gas exploration and development company based in India, is pleased to announce it has successfully drilled and cased the SPF-1 well as planned to a total depth of 3,564m.

Wireline logs indicate the well intersected three gas bearing reservoir intervals in the Early Cretaceous Pariwar formation. During initial testing of these zones, gas and water (interpreted as Formation water) were produced with gas flared continuously for 48 hours. A 6m interval was intersected at a depth of between 3,267-3,273m, a further 8m interval was encountered between 3,226-3,234m and the final 12m interval at a depth of between 3,208-3,220m. 

The SPF-1 well was drilled to assess SFT-1/P prospect in the Pariwar – P10 sequence section in Block RJ-ON/6 in the mid Indus basin, India. Further testing, which will require production logging tools, will enable the Company to obtain a better analysis of the gas/water behaviour and obtain pressure and flow rates. The Company is currently mobilising the additional equipment needed.  

Indus has a 90% participating interest in the Block and Focus Energy is the operator with a 10% participating interest.  

The drilling rig will now be moved to the next well location and testing of the SPF-1 well will continue using a workover rig.

In accordance with AIM Guidelines, Paul Fink, Technical Consultant, a Geophysicist who holds an engineering degree from the Mining University of Leoben, Austria and has 18 years of industry experience is the qualified person that has reviewed the technical information contained in this press release.

-ENDS-

  For further information please contact:

Indus Gas Limited
Ajay Kalsi	CEO	[phone]
John Scott	CFO
Arden Partners plc
Richard Day		[phone]
Adrian Trimmings
Pelham PR
Philip Dennis		[phone]
Hugh Barker		[phone]

 

END

 

 

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